New Jersey Lawsuit Loans Help Plaintiffs
Fair Rate Funding is a New Jersey (NJ) based lawsuit funding company located at the Jersey Shore in Manasquan, New Jersey.
If you are involved in a NJ lawsuit and need cash now, you can secure NJ Lawsuit funding in as little as 12 hours.
Fair Rate Funding specializes in NJ lawsuit funding for personal injury plaintiffs. We can help you get the financial help you need to cover your living expenses. We also provide law firm loans to attorneys in need of increased cash flow.
What are New Jersey Lawsuit Loans?
Lawsuit loans are financial transactions which involve the advancing of money to plaintiffs prior to settlement. A lawsuit funding company (Fair Rate Funding), contracts with a plaintiff who assigns a portion of the settlement in exchange for immediate cash. Plaintiff’s attorney(s) place the agreement as a lien on the file and when the case is settled or otherwise successfully resolved, the lawsuit settlement funding is repaid.
Because lawsuit loan contracts transfer property rights in a portion of a future settlement, they are not repaid if the case is unsuccessful. In other words – if you don’t win, you don’t pay. This means lawsuit funding is a risk free proposition to plaintiffs. It also means that credit checks, employment status and asset verification is not part of the legal loan underwriting process.
Simply put, New Jersey lawsuit loans offer NJ plaintiffs the ability to refuse low-ball settlement offers and allow their attorneys to reach the maximum recovery possible. Pre-settlement funding removes financial conditions from impacting the settlement negotiation practice. This is the true power of lawsuit loans.
Do you need a lawsuit loan in New Jersey?
Fair Rate Funding is a leader in the lawsuit loan industry and can help you with immediate cash for your lawsuit. Fair Rate Funding provides NJ lawsuit loans for New Jersey injury lawsuits throughout the great State of New Jersey and also nationally. We can quickly and easily obtain a New Jersey lawsuit loan for you and your family.
Fair Rate Funding specializes in NJ lawsuit funding for the following types of lawsuit loans:
- Car Accidents Lawsuit Funding
- Slip and Fall Lawsuit Loans
- Medical Malpractice Lawsuit Funding
- Jones Act Settlement Funding
- Burn Case Settlement Loans
- Verdict Lawsuit Loans
- Premises Liability Lawsuit Funding
- Product Liability Settlement Funding
- Settled Lawsuit Loans
- And more…
The above mentioned lawsuit funding types are very common. Fair Rate Funding specializes in all types of NJ lawsuit loans. Give us a call to see if you qualify!
NJ Auto Accident Loans
By far the most common type of lawsuit loans considered by Fair Rate Funding are automobile (car) accidents.
The State of New Jersey operates under a modified comparative fault rule for auto (car) accident claims (lawsuits). Under this rule, an injured party cannot be more at fault than another party, if he/she wants to recover damages in the lawsuit. The standard is that the defendant must be 51% at fault for the plaintiff to recover.
If the injured party (plaintiff) was 50% or less at fault, he or she may still recover damages. Any award for damages will be reduced by the amount of fault attributed to the plaintiff. Consult with your personal injury attorney to know your rights and obligations as laws can and do change.
In addition, New Jersey operates under a “No-Fault” automobile insurance standard where the majority of claims for injuries are covered by auto insurance policies. One key attribute of the “no-fault” insurance system is that medical benefits are paid by the injured victim’s own insurance policy as opposed to the at fault party’s coverage.
This type of medical benefit coverage is called “personal injury protection” (PIP) and New Jersey requires a minimum of $15,000 of PIP coverage for its drivers.
Personal injury protection car insurance simply provides a set amount (in this case $15,000) to be used towards hospital bills of the driver and any passengers at the time of the accident. New Jersey is considered a choice state when it comes to auto accidents.
The minimum bodily injury coverages for auto policies are as follows:
- Bodily Injury for One Person: $15,000
- Bodily Injury for All Injuries: $30,000
- Property Damage: $5,000
These minimum coverages mean that for each individual accident a single plaintiff is covered for up to $15,000 in losses. Multiple plaintiffs can draw on $30,000, but have to do so collectively per accident. Although auto insurance policies are required by law in New Jersey, the above mentioned limits are low and may not adequately compensate injured parties. Many insurance carriers offer Under Insured Motorist Coverage (UIM) and Uninsured Motorist Coverage (UM) to mitigate the risk that the defendant’s policy will be insufficient to make the plaintiff whole again.
New Jersey car accident loans are not our only discipline. We fund a variety of lawsuits in New Jersey. Give us a call to see if you qualify. The call is free. The consultation is free.
Types of New Jersey Lawsuit Funding
New Jersey Lawsuit Pre-Settlement Funding
People involved in personal injury and other lawsuits are waiting for their case to be resolved and a judgement or settlement to be reached. While they wait for monetary relief, they can seek NJ lawsuit loans or NJ pre-settlement funding. NJ lawsuit cash advances of this kind are also known as legal funding, lawsuit funding, settlement funding, legal loans or settlement loans.
NJ lawsuit funding affords financial relief for plaintiffs who have a hard time making payments for daily living expenses. Often, this is due to an inability to earn as much as before their accident because of an unforeseen injury.
NJ Lawsuit Loans
A pre-settlement cash advance can occur any time after a plaintiff’s personal injury attorney files a claim with the defendant’s insurance carrier or a Complaint in state or federal court.
NJ Settled Case Funding
Also called settled case loans, NJ settled case funding occurs after a Release is signed but before the plaintiff receives his/her settlement proceeds.
NJ Verdict Funding
Also called an appeal funding, cases won at trial still may face a lengthy appeal process. Litigants can access funds at this time through Fair Rate Funding’s Verdict Funding programs.
Fair Rate Funding extends NJ lawsuit funding, lawsuit loans, legal loans and settlement funding throughout the US and New Jersey including the cities of Paterson, Newark, Trenton, Passaic, Clifton, East Orange, Union City, Jersey City, Camden, Elizabeth and other municipalities.
If you need NJ lawsuit funding in New Jersey or any other state, simply fill out the Quick Application or Call 888-964-2224.
If You Have Any Questions, Call 888-964-2224
WE ARE HERE TO HELP YOU!
New Jersey Lawsuit Funding Laws
Contract Regulation
Currently, there is no law prohibiting lawsuit funding contracts in New Jersey.
In 2020, New Jersey lawmakers proposed a bill known as the Consumer Litigation Funding Act. The bill seeks to regulate lawsuit loans to consumers while acknowledging lawsuit funding as filling a legitimate need within the legal landscape. Some proposals include the capping of lawsuit funding rates to 40% per year and limiting processing and other fees to $500 on each contract.
Lawyer’s Ability to Help
Under New Jersey state ethics rules, lawyers can assist their clients with lawsuit funding. They cannot however assist with expenses unrelated to pursuing the case itself, such as filing fees, expert costs, etc. The Code of Professional Conduct Rule 1.8 states:
A lawyer shall not provide financial assistance to a client in connection with pending or contemplated litigation, except that:
New Jersey Rules of Professional Conduct – Rule 1.8(e)
(1) a lawyer may advance court costs and expenses of litigation, the repayment of which may be contingent on the outcome of the matter; and
(2) a lawyer representing an indigent client may pay court costs and expenses of litigation on behalf of the client.
According to Ethics Opinion 691, an Advisory Committee on Professional Ethics was asked if attorneys may advise clients of their ability to secure fund from lawsuit lenders. The Opinion noted that RPC §1.8 (in relevant part above) did not “expressly or impliedly prohibit a lawyer from helping a client to obtain financial assistance from another, as long as the lawyer has no financial interest in the individual or entity which secures or provides that funding.” The Committee concluded that it is ethical for a lawyer to assist their clients with funding under the limitations expressed in the Opinion.
NJ Lawsuit Funding Requirements
To apply for funding, you will need:
- Your Name
- Your Phone Number
- Your Attorney’s Contact Information
Your attorney must be retained on a contingency fee arrangement, meaning the attorney only gets a fee if the case is successful. We contact your attorney to discuss the case and the likelihood of success. This will determine whether we can approve you for funding and for what amount.
You should also be aware of the following:
- Under no circumstances will Fair Rate Funding run a credit check. Credit is not a factor in our determination.
- We aim to make the process quick and easy. The majority of the work it takes to get you an advance is borne by us and your attorney’s office.
- If for any reason, you do not recover any compensation from your case, any lawsuit funding you received is not repaid. That’s right – if you don’t win, neither do we!
Personal Injury Lawyers in New Jersey
There are many personal injury lawyers in New Jersey who can help you navigate the legal process in NJ. These attorneys can be reached by contacting the local bar association in the county in which you reside or contacting the New Jersey State Bar Association (NJSBA). Other New Jersey law firms can be found at the Top 5 Personal Injury Law Firms in New Jersey 2019.
For background information regarding New Jersey personal injury, consider visiting one of NJ’s top 5 personal injury blogs. You can also contact us and we will help you. We are from New Jersey after all.
New Jersey Lawsuit Funding FAQ’s
How do I know I can qualify for a lawsuit loan in New Jersey?
If you were injured by another party and have an attorney representing you in a lawsuit, you can apply for lawsuit funding in New Jersey. If your accident occurred in New Jersey and you have permanent injuries, you will qualify for a free lawsuit loan application.
What is the difference between a lawsuit loan and a regular loan?
A lawsuit loan is an advance on the future proceeds of your case. It differs from a traditional loan because regular loans mean you are responsible for repayment under all circumstances. With a lawsuit loan, the money is only repaid if you win your case. For more on the differences between these two types of financial transactions, please read about the differences between loans and lawsuit loans.
How am I able to spend the funding?
Unlike other traditional loans which require you to spend the money on something specific (i.e. car loans, mortgages, etc.), lawsuit loans have no such restriction in New Jersey or elsewhere. When you receive lawsuit funding in NJ, you can spend the money on anything you like. After all, it’s your money.
Fair Rate Funding specializes in NJ lawsuit loans because we are from New Jersey. This is our home. No other funding company can serve you better in NJ. Give us a call. We are here to help and are at your service. Call now – 888-964-2224.
Where are NJ Lawsuit Loans Available?
Lawsuit loans are available throughout New Jersey. Browse through the map below to find out more about lawsuit loans in your area.
New Jersey Lawsuit Funding Counties
Finding Your NJ Settlement Loan Company
Finding the best New Jersey settlement loan company can seem like a daunting task. But it can be done effectively with a little bit of research and a few phone calls. For more information about lawsuit loans or settlement loans, browse our site to help you find the best lawsuit funding deal possible.
Thank you for your interest in the NJ’s best lawsuit loan company – Fair Rate Funding.
